Crude Oil Futures Rise on Spot Demand - PTI
Feb 07, 2024 14:24
Crude oil futures prices in India increased on Wednesday, driven by firm spot demand. Global crude oil prices also rose, with West Texas Intermediate and Brent crude both trading higher.
New Delhi, Feb 7 (PTI) Crude oil prices on Wednesday increased Rs 32 to Rs 6,116 per barrel in futures trade as participants widened their positions following a firm spot demand.
On the Multi Commodity Exchange, crude oil for February delivery traded higher by Rs 32, or 0.53 per cent, at Rs 6,116 per barrel in 11,141 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude oil was up by 0.27 per cent to USD 73.51 per barrel, and Brent crude traded 0.22 per cent higher at USD 78.76 per barrel in New York.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.